Aditya Birla Group announced the formal launch of its new ‘House of Brands’ entity – TMRW. This move is in line with the group’s strategy to launch and back new-age digital ventures.
TMRW will create a portfolio of disruptor brands in the fashion & lifestyle space and enable the next phase of D2C growth in India, which is poised to be a $100bn market by 2025.
Over the next 3 years, TMRW will acquire as well as incubate 30+ innovative, customer-obsessed brands. The venture will also enable multiple founders to operate within a synergistic ‘house of brands’ platform that share a common vision and shared capabilities.
The group has appointed ex Facebook & Bain executive, Prashanth Aluru, as the CEO & Co-Founder to lead the build out of this new venture. Prashanth will set-up a nimble and agile founding team with the right skill sets and capabilities. Prashanth comes with extensive experience in Digital & Technology across strategy, growth and investing. He also brings to the fore rich entrepreneurial experience in helping build and scale new age ventures in Digital & E-Commerce.
Ashish Dikshit, MD of ABFRL said, “ The formal launch of our D2C business, TMRW, is a key milestone for the company. This venture has the potential to become a significant growth engine by tapping into the new wave of entrepreneurial energy in India. Our aspiration is to build a portfolio of 30+ brands in the next 3 years. With the launch of this venture, we intend to double down on our ongoing program of strategically attracting new pools of capital that are seeking investment in high-growth businesses. We are confident that this foray will successfully meet the aspirations of digitally native consumers and also create long-term value for investors and other stakeholders.”
Commenting on the new role, Aluru said, “I am excited to embark on this journey to build TMRW – a long-term enduring platform that will be home to the leading disruptor brands that provide the new age digitally savvy consumer what she is looking for across Fashion & Lifestyle. With the backing of the Aditya Birla Group and the right profile of long-term investors we will bring in, we are confident of powering the growth of several brands that shape the next phase of digital commerce growth till 2030 and beyond. With a new age Digital first DNA, at TMRW, we will jointly create an ecosystem of the most-loved disruptor brands partnering closely with highly competent founders.”